After a couple of soggy sessions following a series of fresh record highs, the FTSE 100 was helped higher by strong corporate earnings and a reasonably positive response to the Federal Reserve’s interest rate decision.
The FTSE 100 bounced back on Thursday and traded close to intraday highs before easing back to 8,153, up 0.4% on the day.
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The significant macro consideration for traders was the Federal Reserve’s interest rate decision and accompanying commentary, which proved to be a non-event.
“The move was widely expected after recent economic data showed the US struggling still to get the inflation genie back inside the lamp,” said Steve Clayton, head of equity funds, Hargreaves Lansdown.
Clayton continued to explain that markets learned nothing new from the Federal Reserve yesterday, given Fed speakers have consistently hinted at a longer wait for interest rate cuts. The…
